Basmati rice worth US$ 147.310mn exported in last five months

ISLAMABAD: Basmati rice worth US$ 147.310 million was exported from the country during first five months of current financial year as compared the exports of US$ 143.294 million of the corresponding period of last year.

Exports of basmati rice from the country grew by 2.80 percent during the period form July-November, 2017-18 as it was recorded at 144,093 metric tons as against the exports of 150,631 metric tons exported in the same period of last year.

Meanwhile, rice other then basmati valuing US$ 497.060 million exported during the period under review as compared the exports of US$ 414.42 million of of same period last year, according the data of Pakistan Bureau of Statistics. During the period under review, about 1,206,877 metric tons of rice other then basmati exported as against the exports of 1,125,225 metric tons of same period last year, it added.

In five months of current financial year, rice exports from the country grew by 15.62 percent as about 1,350,916 metric tons of rice valuing US$ 644.370 million exported as compared the exports of 1,275,856 million worth US$ 557.336 million of same period of last year, it added.

On the other hand exports of rice from the country on month on month basis also witnessed an increase of 12.85 percent as about 435,688 metric tons of rice valuing US$ 188.707 million exported as compered the exports of 417,721 metric tons worth US$ 165.742 million of same period of last year.

It is pertinent to mention here that the overall food exports from the country witnessed increase of 13.05 percent during the first five months of the current fiscal year against the same period of last year.

The food exports from the country during July-November (2017-18) were recorded at $1491.592 million against the exports of $1319.381 million during July-November 2016-17), the data revealed.

The total merchandize exports from the country during July-November (2017-18) stood at $9.030 billion against the exports of $8.173 billion during the correspondent period of last year, showing growth of 10.49 percent.

The imports into the country during the period under review also increased by 21.12 percent, from $19.864 billion to $24.060 billion, according to the data.

Based on the figures, the trade deficit during the first five months of the current year was recorded at $15.030 billion against the deficit of $11.691 billion, showing growth of 28.56 percent in the overall deficit.